Author Archives: James @ Glassridge

"Lend money to an enemy, and you will gain him. Lend money to a friend, and you will lose him".

Although I'm para-phrasing this quote, thought to be from Benjamin Franklin, it is as true now as it was back then. Asking a family member or friend to pick up the tab at dinner because you forgot your wallet is one thing, but seeking a legitimate and considerable capital transaction from someone you have a familial or personal relationship with can sometimes be a bad decision. Here's why you shouldn't burden them with something like that, and why Hard Money is where you can turn for fast and affordable funding.Continued

We're all familiar with the phrase, but what exactly does "loan closing" mean? With this blog, I'll attempt to tell you all there is to know about it.

The home loan closing process may be lengthier than you think, so be sure to ask your lender, as well as friends & family and even your local agent what they have seen as an average. Because, after getting a purchase offer accepted, the next question that most investors want to know is how long is it going to take for the loan to close so they can receive funding and begin their next project. Unless the buyers are going to pay in all cash for the property, it is the buyer's lender who will determine the length of time required to process the loan and close. Continued

Although typically the main focus for most investors is to bring the interior of the rehab project up to code, as well as have it arranged with the latest in local fashions, you also should dedicate some time and money to improve the property’s curb appeal. This is the initial view in which potential buyers and renters will get as they pull up in front of the building and walk up to the entrance. We all know that you only get one chance to make a first impression, after all, and that first look is critical as it can affect buyers in ways that they don’t even completely realize.

Keep in mind however, that while curb appeal is essential, it’s also unlikely to increase much of the inherent value of the property. Thus, it’s not something you should invest too much on. Thankfully, there are several methods you can use to improve a property’s appearance without spending the big bucks. I'll explain them in Lookin' Good: 8 Inexpensive Ways To Increase Curb Appeal.Continued

Although a simple Fix & Flip is typically the most common use for a Hard Money Loan, there are several other profitable techniques for Real Estate Investors to utilize. Expand your portfolio by employing a variety of these applications in your own life, and experience the different and innovative ways to build your wealth! Continued

There seems to be a shroud of mystery involving Hard Money. I mean, there are people that argue over the difference between Hard money and Private Money. (Mind you, they are the very same thing). It is this confusion that can downright scare some investors right out of even entertaining the idea... One of our core values at Glassridge is authenticity. What you see is what you get, with no misleading claims or deceptive fine print and this not only applies to our personal lifestlye, but also translates into our business practices as I intend to further reveal with this candid and brutally honest report.

Hard-money lenders do not rely on the creditworthiness of the borrower. Instead, they look to the value of the property. The lender wants to make sure that if the borrower defaults, there will be sufficient equity in the property over and above the amount of the loan. Accordingly, you will not get a hard money loan of 80 or 90 percent loan to value; typically, they will range from 50 to 70 percent loan to value. 1

I receive calls everyday from investors requesting a Hard Money loan to finance a real estate deal through Glassridge and more often than not, unfortunately I have to tell them that the answer is no. Those investors with little or no experience tend to make the same mistakes, and in this countdown to the number one reason, I will explain. Continued

Visio Lending CEO, Jeff Ball, wrote a great article last week reviewing some important reports from the Federal Reserve. Entitled "Mortgage Rates, The Economy & its Effect on Real Estate Investors," the article makes some astute observations about 30 year mortgage rates, 10 years treasury rates, and the Fed Funds Rate.

We at Glassridge are in total agreement with Mr. Ball’s outlook and predictions, and wanted to share his article with a bit of our own commentary. Continued

There seems to be a shroud of mystery associated with Hard Money. One of our core principles at Glassridge is total transparency and as such, I will now shed some light on just exactly what Hard Money is, who uses Hard Money, and why, by highlighting 10 Hard Money borrower situations. Continued

How important is your personal finance and how much influence does it have on your efforts to build your own personal wealth?

If building wealth is a tool you intend to use for your financial independence, then your personal finance will definitely be the day-to-day responsibility that is going to aid in manifesting the exit strategy you've envisioned, and over time get you the permanent outcome you are searching for. Continued

Glassridge (and its subsidiaries) make commercial, business purpose loans only. The loans it makes are to investors of commercial oriented, non-owner occupied properties. Glassridge does not make residential mortgage loans. Loans are for investment purposes only and not for personal, family, or household use. Loan product availability may be limited in certain areas. This is not a commitment to lend. All loans are subject to borrower underwriting and credit approval, in Glassridge's sole and absolute discretion. Other restrictions apply.